“Hiring will happen again to satisfy demand, but that only manifests for an OEM with firm orders in hand,” he told Recharge. The PTC revival is expected to drive wind energy development, and Philip Totaro, CEO of renewable energy research consultancy IntelStor, said their market forecast including the impact of the IRA found “an increase in volume” across the sector. The Inflation Reduction Act (IRA) revived the measure, however, and onshore wind projects are now eligible for PTC of up to $26/MWh - and developers, in some cases, have new flexibility to sell or buy them - or take cash instead. Vestas link with rival GE-owned LM Wind Power extends to world's largest onshore turbine

“We will share these proposals with the Renewable Energy European Works Council and local works councils where applicable over the next few weeks.” While the company didn’t disclose numbers, media reports indicate that GE will lay off 20% of its US staff as well as employees in Asia, Latin America, and Africa.Įuropean cuts are expected as well: “We will also be working on proposals which could potentially affect our teams in the region”, the company spokesperson said. “These are difficult decisions, which do not reflect on our employees’ dedication and hard work but are needed to ensure the business can compete and improve profitability over time.” “We are taking steps to streamline and size our onshore wind business for market realities to position us for future success,” a GE Renewable Energy spokesperson said.

GE Renewable Energy confirmed it plans to lay off staff throughout its global operations as the wind turbine OEM struggles with inflation, supply chain turmoil and plummeting demand.

Siemens star points